Cairo – Mubasher: Cleopatra Hospital Co expects its net profits to grow by 50% during the first quarter of 2020.
The company’s sales are projected to exceed EGP 500 million in Q1-20, posting a 22% year-on-year increase, according to a bourse disclosure on Monday.
In addition, the Egyptian firm boosted its cash liquidity to exceed EGP 700 million as of 31 March without resorting to withdrawing any credit facilities.
The company revised its planned capital expenditures for 2020 and restructured some expenses in response to the current circumstances amid the coronavirus (COVID-19) outbreak.
It is noteworthy to mention that in 2019, Cleopatra Hospital Co logged net profits of EGP 265.35 million, down from EGP 315.19 million in 2018, including minority shareholders’ rights.
